Editorâs Note: This post is part of our two-month-long series on co-working spaces, which typically runs on Mondays. Stay tuned to YoungEntrepreneur.com for more updates.
Projective Space has housed car service startup Uber, international crowdfunding platform Indiegogo and loyalty program AppCard, which last year raised $6.5 million from heavyweights Eric Schmidt, Jerry Yang and Peter Thiel. When its SoHo office filled up, the founders decided to branch out in New York City's Lower East Side neighborhood. We checked out the spot and provided the details below.
Space lowdown: Located at 72 Allen Street on the third floor of a commercial building, the space spans 7,200 square-feet.Â Besides serving as a co-working space, the front lounge can accommodate 150 people for events, panels, demo days and hackathons. Plus, Projective Space has teamed up with SkillShare to offer a number of classes. Overall, the combined capacity of the Projective spaces is 180 members.
The back story: Combining his love for real estate and tech startups, 36-year-old James Wahba founded Projective Space in SoHo in 2011 with his two brothers, 33-year-old Johnny and 28-year-old Tim. Rather than just create another office space for rent, the trio wanted to build a supportive startup community that would help tech companies interact and increase productivity.
âThe cross pollination of ideas is easier when theyâre all in the same industry,â says James. âWe really want to be the place where companies go when they want to get work done and also help each other grow.â
The scoop: Currently, there are more than 100 people waiting to get in to either Projective locations but if you're looking to grab a spot, the team recommends young entrepreneurs to 1) define their business, 2) explain why they want to be a part of the community and 3) how they'll contribute. Also, it doesn't hurt if you have links to press, videos and references.
Whoâs there: From a boutique fashion product to a party organizer website, Projective Space has a potpourri of startups with entrepreneurs valuing the environment and comradery.
"We decided to join Projective Space first and foremost for its vibrant and growing tech community," says Jose de Cabo, the founder photo-sharing platform Olapic. "It's great to work next to other fast growing startups that are going through the same daily challenges and learn from one another."
Cost: Â For a dedicated desk, you will have to fork over $450 a month, while the communal workspaces -- areas where there isn't a fixed workspace and no need for permanent monitors -- will cost you $350.
Think this co-working space is right for your startup? Apply at Projective Space.
What would be the most important factor for you when deciding on a co-working space? Let us know in a comment below.